Market Demand For Machine Tool Industry is Rebounding!

Data released by the China Machine Tool Industry Association showed that from January to September 2024, the entire machine tool industry achieved an operating income of 752.4 billion yuan, a year-on-year decrease of 6.6%, 1.1 percentage points smaller than January to June.

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Among them, the operating income of metal cutting machine tools was 120.1 billion yuan, a year-on-year increase of 3.9%, an increase of 3.4 percentage points from January to June; the operating income of metal forming machine tools was 67.6 billion yuan, a year-on-year increase of 7.6%, an increase of 4.6 percentage points from January to June; the operating income of machine tool functional parts and accessories was 45.7 billion yuan, a year-on-year increase of 11.1%, an increase of 7.9 percentage points from January to June; the operating income of cutting tools was 79.2 billion yuan, abrasives and grinding tools was 327.3 billion yuan, and the remaining 112.4 billion yuan.

It is not difficult to find from the operating income from January to September that the machine tool and accessories industry continued to grow, and the growth rate showed an expanding trend; the growth rate of the cutting tool industry dropped to basically flat; but the abrasives and grinding tools industry fell by 18.0% year-on-year. Affected by this, the operating income of the entire industry is still in a downward range, but the decline continues to narrow.

The relevant stuff said, "It is worth noting that with the continued effectiveness of the series of policies, the positive factors promoting economic recovery have increased significantly, market demand has gradually recovered, market confidence has gradually increased, production-end activities have gradually increased, and the output of metal cutting machine tools and metal forming machine tools has fully recovered."